Lucid Group (NASDAQ:LCID) Now Covered by Benchmark

Benchmark assumed coverage on shares of Lucid Group (NASDAQ:LCID) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $5.00 target price on the stock.

Other research analysts have also recently issued research reports about the stock. Cfra set a $2.00 price target on shares of Lucid Group in a report on Thursday, October 17th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $3.00 target price on shares of Lucid Group in a research note on Tuesday, January 7th. Royal Bank of Canada lowered their target price on Lucid Group from $3.00 to $2.00 and set a “sector perform” rating for the company in a report on Tuesday, November 19th. R. F. Lafferty raised Lucid Group from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lucid Group in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $3.24.

Lucid Group Trading Up 6.7 %

NASDAQ:LCID opened at $2.87 on Wednesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.71 and a quick ratio of 3.26. The business’s 50-day simple moving average is $2.86 and its 200-day simple moving average is $2.98. Lucid Group has a fifty-two week low of $1.93 and a fifty-two week high of $4.43. The stock has a market capitalization of $8.64 billion, a PE ratio of -2.14 and a beta of 0.93.

Institutional Investors Weigh In On Lucid Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Truist Financial Corp increased its holdings in Lucid Group by 40.2% during the second quarter. Truist Financial Corp now owns 37,760 shares of the company’s stock worth $99,000 after buying an additional 10,828 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Lucid Group in the 2nd quarter valued at about $26,000. SG Americas Securities LLC acquired a new position in shares of Lucid Group during the 3rd quarter worth about $537,000. CWM LLC raised its holdings in shares of Lucid Group by 24.6% in the 3rd quarter. CWM LLC now owns 34,350 shares of the company’s stock valued at $121,000 after purchasing an additional 6,771 shares during the period. Finally, Creative Planning lifted its stake in Lucid Group by 54.3% in the 3rd quarter. Creative Planning now owns 224,031 shares of the company’s stock valued at $791,000 after purchasing an additional 78,839 shares during the last quarter. Institutional investors own 75.17% of the company’s stock.

About Lucid Group

Lucid Group, Inc a technology company, designs, engineers, manufactures, and sells electric vehicles (EV), EV powertrains, and battery systems. It also designs and develops proprietary software in-house for Lucid vehicles. The company sells vehicles directly to consumers through its retail sales network and direct online sales, including Lucid Financial Services.